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Definition
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A full-service financial institution that offers a variety of services
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Term
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Saving and loan association
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Definition
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A financial institution that provides loans and mortgages to customers who hold a saving acount
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Term
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Definition
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A nonprofit financial cooperative owned by its members
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Term
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Insured financial institution
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Definition
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One that is insured---as by Federal Deposit Insurance Corporation (FDIC), Savings Association Insurance Fund (SAIF), or Natioanl Credit Union Administration (NCUA) to protect deposits of clients
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Term
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Definition
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Paper checks or debit cards are used to withdraw money deposited into the account to pay for items
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Term
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Definition
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Money is deposited into an account to earn interest
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Term
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Definition
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A plan for saving money for retirement; money tax-deferred until withdrawn
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Term
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Definition
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A savings account at a credit union
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Term
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Share certificate account
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Definition
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A certificate of deposit at a credit union
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Term
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Definition
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A checking account at a credit union
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Term
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Definition
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An investment of money in a government or organization
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Term
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Definition
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An insured interest-earning savings tool with restricted access to funds
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Term
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Definition
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Groups of stocks, bonds, and other investments managed by an investment firm
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Term
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Definition
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Purchasing properties as an investment to gain profit
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Term
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Definition
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Ownership, represented by shares, in a corporation
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Term
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Definition
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A card used to make a purchases; must be repaid later with interest
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Term
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Definition
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Term
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Definition
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A loan to purchase a home or other real estate
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Term
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Definition
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Assistance to consumers with specific areas of financial planning
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Term
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Definition
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A secured box in a bank used by clients for valuable personal items
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Term
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Definition
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Using computer networks to make electronic funds transfers among accounts
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Term
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Definition
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The ability to obtain money from one’s accounts quickly and easily
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Term
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Point-of-sale (POS) transfer
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Definition
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The place where a purchase is made and money is electronically moved
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Term
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Personal Identification Number (PIN)
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Definition
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A unique number kept secured and used to access an account and perform transactions
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Term
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Automated Teller Machine (ATM)
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Definition
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A computer terminal used to transact business with a financial institution
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Term
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Definition
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Arrangement for electronically depositing pay/benefits directly into an account
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Term
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Definition
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Arrangement for electronically withdrawing funds from an account to pay bills
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Term
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Definition
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Card storing pre-paid amounts of money to use when making purchases
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Term
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Definition
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Term
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Definition
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A hand-written document used to pay for purchases using funds in a personal checking account
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Term
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Definition
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A check bought from a bank with payment guaranteed by the bank
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Term
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Definition
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A personal check with a bank’s guarantee of payment
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Term
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Definition
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A way for people with no checking account to send money by mail
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Term
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Definition
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A check used in place of cash when traveling for greater security
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Term
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Definition
| A card used for point-of-sale transactions on a checking account |
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Term
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Definition
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A card used for payment through credit with interest accruing
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Term
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Definition
| A credit arrangement where the amount of money borrowed continues to change as payments are made and purchases are put on the credit card |
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Term
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Definition
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A credit arrangement where the amount of money borrowed and the amount to be repaid per month are fixed at the time the installment loan is made
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